One held for duping Panchkula residents on pretext of doubling investment

The case dates back to June 2020, when a complaint was registered by two Panchkula residents, who alleged the man of duping them on pretext of doubling investment

Police arrested the owner of a real estate company for allegedly cheating more than 100 people by making false promises of offering double return on monetary investments.

Police arrested a man for duping Panchkula residents on pretext of doubling their investment in five days. (HT File)

The arrested person, identified as Uday Partap Singh of Rampur village in Uttar Pradesh, was arrested from his current rented accommodation in Lucknow by Sector 16 chowki in-charge Sushil Kumar.

He was later produced in the local court on Monday and has been sent to a five-day police remand.

The case dates back to June 2020, when a complaint was registered by Harikesh Maurya of Mauli Jagran and Jeevan Kumar of Saketri. The duo said they had been depositing money in the company named Real Vision Land Developers and Infratech and Real vision developers India Limited since 2011 on the promise of double returns.

“Over 100 people have deposited money in this company, as the company had assured us that our amount will be doubled within five days,” they said in the FIR.

Detailing the fraud, they said, “When we visited the company (Real Company Land developers Limited) at its office in sector 16, Panchkula, we found the office was closed. We got to know that the company has been closed. When inquired from the employees, they assured that we will get money back within 2 months. But after two months MD and directors stopped answering our calls.”.

A case was registered and after two years, following which the accused was arrested.

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Chandigarh

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